The Curv | 178.5m | 60Fl | Proposed

[osirisboy]

Originally Posted by whatnext

Saw this reality check on Twitter, er "X" :


Mortimer
@mortimer_1
So 27% sold of new condo projects in Vancouver is the new benchmark for success … gotta love the spin here… 100 units sold out of 358 units so far…

https://twitter.com/mortimer_1/status/1717522826587152427

They haven’t released all units yet for sale though

[phesto]

So there's 20 units left in the first "release" of sales. Hurry while supplies last!

[GenWhy?]

100 units sold to date in our current market, downtown, at these prices, seems really impressive to me. You definitely don't get to 70-80% sold even while still in construction for most projects.

I don't know what percent sold they'll want to achieve to move forward, for condos I only work on 4-6 storey but that's just over 60% sold to move ahead. Nearly 30% isn't too bad on a partial release. Mortimer knows no one would get over 50% immediately in this market, at this price.

[whatnext]

Originally Posted by osirisboy

They haven’t released all units yet for sale though

How many more idiots are left in Vancouver? Surely even the assignment flipping realtors are thinking twice about these projects now.

[MIPS]

Originally Posted by whatnext

How many more idiots are left in Vancouver? Surely even the assignment flipping realtors are thinking twice about these projects now.

It's stuck in a feedback loop.

[jollyburger]

They just got new financing lined up with BMO three weeks ago as well

Canadian developer Brivia Group announces a new capital partnership with BMO for CURV, the Group’s first project in Western Canada that is set to become Vancouver’s tallest residential tower and the world’s tallest passive house building.

The sixty-storey CURV offers a unique cross-section of purpose-driven luxury and sustainable living in the heart of Vancouver’s downtown core, meeting international passive house standards to become the most energy-efficient structure of its kind.

“I am proud to be partnering with BMO as Brivia Group expands into Western Canada with CURV, a world-leading energy-efficient development,” said Kheng Ly, President and CEO, Brivia Group. “We have seen an incredibly positive market response since the tower’s public launch this summer, confirming the resilience of Vancouver’s downtown real estate market and the confidence in purchasing power out West. We are looking forward to welcoming BMO on this exciting journey as we continue our effort towards the path forward for sustainable and community-driven developments in the cities where we operate.”

The CURV presentation gallery, located on 510 Burrard Street, Vancouver, B.C., is open during the week for walk-in tours or by private appointment, or by private appointment only on Fridays. Learn more or book a viewing at www.thecurv.ca.

https://briviagroup.ca/en/brivia-group-p...curv-worlds-tallest-passive-house-tower/

[jollyburger]

Porsche sales event for Curv. 2029 completion

https://www.biv.com/news/real-estate/por...uyers-cars-curv-condos-incentive-8333304

[svlt]

Originally Posted by jollyburger

Porsche sales event for Curv. 2029 completion

https://www.biv.com/news/real-estate/por...uyers-cars-curv-condos-incentive-8333304

Utterly tonedeaf with respect to current cost of living but it's clear as day who this project is marketed for

[jollyburger]

Originally Posted by svlt

Utterly tonedeaf with respect to current cost of living but it's clear as day who this project is marketed for

EV Porsches please?

[GenWhy?]

Originally Posted by jollyburger

Porsche sales event for Curv. 2029 completion

https://www.biv.com/news/real-estate/por...uyers-cars-curv-condos-incentive-8333304

Ah thanks! Great to see this launch! More CAC money for the West End!

Is this tied to the Washington Court reno? I can't remember.

[whatnext]

Originally Posted by jollyburger

Unless you want to ban luxury condos then WTF do you expect?

Well, then maybe she should be discussing whether to ban them. Let's list the luxury buildings in the downtown peninsula that have been built/building lately, even leaving out Coal Harbour and Yaletown:
The Butterfly
1550 Alberni
Trump Tower
Residences at Hotel Georgia
Shangri-la
Charleson
FifteenFifteen Alberni

Not an inconsiderable amount of land, during a housing crisis, and there's more proposed. I'm not even including buildings like Vancouver House which had some eye wateringly expensive units as they also had more reasonable ones. Contrast that with when the West End was built out during the late 1950s-70s which provided us with affordable rental stock for decades. I know those who are purely in it for the skyscrapers will disagree but what's in British Columbians' best interest?

[seamusmcduff]

And the people who are buying these units, what do you think they'll do if we "ban" luxury units? They won't just not purchase anything and decide everything is too cheap for their tastes, those buyers will just buy other "non luxury" properties and push their price up further. Luxury housing has a role in the housing market, in keeping those buyers away from the rest of the housing supply.

Putting aside how I'm not sure how banning them is logistically possible. How do you define luxury? per sf prices? Number of amenties? All seems arbitrary.

[GenWhy?]

Originally Posted by whatnext

Well, then maybe she should be discussing whether to ban them. Let's list the luxury buildings in the downtown peninsula that have been built/building lately, even leaving out Coal Harbour and Yaletown:
The Butterfly
1550 Alberni
Trump Tower
Residences at Hotel Georgia
Shangri-la
Charleson
FifteenFifteen Alberni

Not an inconsiderable amount of land, during a housing crisis, and there's more proposed. I'm not even including buildings like Vancouver House which had some eye wateringly expensive units as they also had more reasonable ones. Contrast that with when the West End was built out during the late 1950s-70s which provided us with affordable rental stock for decades. I know those who are purely in it for the skyscrapers will disagree but what's in British Columbians' best interest?

Over 30 rental tower applications are in the works (that we know of) in the Broadway Plan area. I think we can have 2 or 3 higher end condo towers like this one completed per year.

How does one define "luxury"? What would temporarily banning Curv look like or accomplish?

[whatnext]

Originally Posted by seamusmcduff

And the people who are buying these units, what do you think they'll do if we "ban" luxury units? They won't just not purchase anything and decide everything is too cheap for their tastes, those buyers will just buy other "non luxury" properties and push their price up further. Luxury housing has a role in the housing market, in keeping those buyers away from the rest of the housing supply.

Putting aside how I'm not sure how banning them is logistically possible. How do you define luxury? per sf prices? Number of amenties? All seems arbitrary.

Oh, no question a ban would be difficult to even try. I suppose the city could actually use the zoning power given to them by the NDP to make almost everything "rental only". As to where those luxury buyers would go, how many are Canadian taxpayers vs those who are not...?

[whatnext]

Originally Posted by GenWhy?

Over 30 rental tower applications are in the works (that we know of) in the Broadway Plan area. I think we can have 2 or 3 higher end condo towers like this one completed per year.

How does one define "luxury"? What would temporarily banning Curv look like or accomplish?

How much would land values come down if developers knew building high end luxury condos wasn't an option?

[jollyburger]

Originally Posted by GenWhy?

Over 30 rental tower applications are in the works (that we know of) in the Broadway Plan area. I think we can have 2 or 3 higher end condo towers like this one completed per year.

How does one define "luxury"? What would temporarily banning Curv look like or accomplish?

They can ban mansions while they are at it or people who spend $300 on a single meal.

[whatnext]

Originally Posted by jollyburger

They can ban mansions while they are at it or people who spend $300 on a single meal.

True, prices of existing mansions were driven up by the same external market forces. Though the closest comparison is with building McMansions on ALR land thus making those available lands not economic for farmers.

[Changing City]

Originally Posted by GenWhy?

Ah thanks! Great to see this launch! More CAC money for the West End!

Is this tied to the Washington Court reno? I can't remember.

I think Washington Court is a Reliance rental makeover (with the appropriate new rents, no doubt). The CAC from Curv is the bottom 102 units (levels 2 - 15) which will be an air-right parcel social housing project handed to the City of Vancouver (like the podium on the lane at Landmark). 'The applicant also agreed to deliver a minimum of 50 rental units in the development, approximately 3,226 sq. m (34,724 sq. ft.) of rentable floor area as market rental housing'.

[Metro-One]

What a bizarre conversation.

The construction of a handful of luxury condos isn't the cause of the housing affordability crisis. At most it will be a fraction of a percent of the cause.

The strict single house zoning, the strict height limits, the endless red tape zoning processes (cough, Safeway sight at Commercial and Broadway) etc... are the primary causes

Some people here are ironically asking for some Soviet / Chinese level government control, which has arguably been the biggest problem (as listed above) in the first place!

[GenWhy?]

Originally Posted by whatnext

How much would land values come down if developers knew building high end luxury condos wasn't an option?

Well we'd have to define what "high end" and "luxury" is first.